Whilst cash flow is highly important for any business, it is especially crucial for anyone who is working freelance. Many clients feel that they don’t have to pay their freelance web designer on time, which leaves you chasing them down for the hundreds or even thousands of dollars that you are owed. Use these tips to help ensure that you are paid much faster:
- Think carefully about your invoice terms, as being polite, avoiding the use of jargon and threatening clients with interest if they pay late can all increase the speed with which you are paid.
- Send your invoices out ASAP, as many clients will not pay you (even if they have the money) unless they have a copy of the invoice for their own records. Take a paper copy with you to your final meeting if you like.
- Have a follow up plan in place, which could include identifying clients with outstanding invoices, sending them a quick reminder email and then following that up with a phone call.
- Don’t hesitate to take legal action if you have to, as some clients will not respond to anything else. Getting your lawyer to send the client a letter on your behalf often works.